Philips is a Dutch firm that has recently announced to sale its business of home appliances to Hillhouse Capital, an Asian investment firm in about 3.7 billion euros that is $4.4 billion, as the former electronics giant focuses on healthcare.
According to the reports, Hillhouse Capital says that it has its home bases in Beijing, Hong Kong, and Singapore, and it will lease the company; however, it was added that Philips is a brand name that is successfully running for 15 years under the deal for coffee, kitchen, garment clothes and other home care appliances.
Philips that is Amsterdam-based started off more than 100 years ago as a lighting company but it has undergone through facing major changes in the recent years while focusing on its particular like on the remote healthcare.
Philips…please setup plant in Pakistan.